Spain: Standard reclaim procedure on behalf of individuals – Important update

11.11.2019

Clearstream Banking1 informs customers of new requirements from the Spanish tax authorities when submitting reclaim form of withholding tax on income from Spanish securities paid from 1 January 2018 onwards and effective

immediately

Background

Our depositary Banco Bilbao Vizcaya Argentaria has communicated new requirements that impact the standard refund of withholding tax on income from Spanish securities paid from 1 January 2018 onwards, when requested on behalf of individuals.

Since this information has not yet been officially published by the Spanish tax authorities, this announcement might be subject to changes in the future. Nevertheless, it is currently mandatory to provide the requested information mentioned below.

Impact on customers

Customers applying for a standard refund of withholding tax on income from Spanish securities paid from 1 January 2018 onwards must provide the following information on behalf of individuals in addition to the existing requirements:

  • Date of birth of the beneficial owner;
  • City of birth of the beneficial owner;
  • Country of birth of the beneficial owner.

This information must be provided together within the amended Breakdown Spreadsheet attached to this announcement.

Customers who have already submitted their refund requests must provide this additional information upon request from Clearstream Banking in order to avoid any rejection from the Spanish tax authorities.

The other requirements of the standard refund procedure described in the Market Taxation Guide - Spain remain unchanged.

Further information

The Market Taxation Guide - Spain will be updated in due course.

Customers may contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or their Relationship Officer.

------------------------------------------
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking Frankfurt (CBF) customers using CreationOnline), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.